Compute the total amount of income subject to finaltax.• Yield from deposit substitute- 20,000• Interest income from bonds of a domesticcorporation- 23,000• Property dividend declared by a foreigncorporation- 40,000• Stock dividend declared by a domesticcorporation- 60,000• Compensation income, net of P10,000withholding tax- 80,000• Prize on "Search for Mr. Sexy Body"- 25,000• Royalties from books- 24,000• Interest income on personal loans granted to afriend- 8,000AP89,000BP99,000P49,000DP69,000

Tax liability: The amount of tax owed to the government by the individual and the corporate is known…

Answered: A P89,000 B P99,000 C P49,000 D P69,000

Business

Accounting

A P89,000 B P99,000 C P49,000 D P69,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

h5
Dog
kai.9
Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Work in process Finished goods Additional information: Raw materials purchases Direct labor cost Beginning Ending $40,000 $36,500 $22,500 $30,000 $38,500 $53,500 $72,500 $97,500 $65,500 Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is: $10,600 $64,500
Sh12 Please help me Solution Thankyou.
Part 1: Net Present Value (NPV) First, we need to calculate the annual cash flow. The net income is given, and since depreciation is a non-cash expense, we add it back to net income to find the cash flow: Annual Cash Flow = Net Income + Depreciation Annual Cash Flow = $200,000+ $200,000 Annual Cash Flow = $400,000 The project lasts for 8 years with an initial investment of $2,000,000. The NPV formula is: CE NPV - Initial Investment = t=1 where CF, is the annual cash flow, is the discount rate, and 12 is the number of years. NPV= 400,000 - 2,000,000 t=1 (1+0.10) Calculating each term: Year 1: Year 2: Year 3: 400,000 (1+0.10)1 400,000 (1+0.10)² 400,000 (1+0.10) 400,000 1.10 400,000 363, 636.36 330, 578.51 1.21 400,000 = 300, 525.98 1.331
00 FI 96 R %24 JAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Print Item Falkland, Inc., is considering the purchase of a patent that has a cost of $51,000 and an estimated revenue producing life of 4 years. Falkland has a cost c capital of 12%. The patent is expected to generate the following amounts of annual income and cash flows: Year 1 Year 2 Year 3 Year 4 Net income $5,100 $6,500 $6,300 Operating cash flows 18,400 18,200 (Click here to see present value and future value tables) 006' A. What is the NPV of the investment? Round your present value factor to three decimal places and final answer to the nearest dollar. 24 B. What happens if the required rate of return increases? If the required rate of return increases, Previous Check My Work 3:54 PM 5/3/2022 dy insert prt sc f8 91 backspa & 7. 4. 5.
Problem 10-9 (Algo) Interest capitalization; specific interest method [LO10-7] On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 March 1, 2024 June 30, 2024 October 1, 2024 January 31, 2025 April 30, 2025 August 31, 2025 $ 1,090,000 780,000 980,000 On January 1, 2024, the company obtained a $3,300,000 construction loan with a 16% interest rate. The loan was outstanding all of 2024 and 2025. The company's other interest-bearing debt included two long-term notes of $2,000,000 and $8,000,000 with interest rates of 10% and 12%, respectively. Both notes were outstanding during all of 2024 and 2025. Interest is paid annually on all debt. The company's fiscal year-end is December 31. Ren 1 and 1 780,000 297,000 630,000 927,000 Required: 1. Calculate the amount of interest that Mason should capitalize in 2024…
PA12. LO 11.5 Garcia Co. owns equipment that costs $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $47,000 cash B. $36,000 cash C. $31,000 cash
Please do not give solution in image format thanku
Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals Credit $ 129,000 11,400 10,400 4,400 34,000 240,000 54,000 440,000 340,000 17,000 34,000 4,400 $923,200 $923,200 Debit $11,400 144,000 5,400 27,000 340,000
Based on the following table. Bid Ask EURUSD 1M FWD 7.05 7.34 EURUSD 2M FWD 14.99 15.15 EURUSD 3M FWD 22.57 23.05 EURUSD 4M FWD 30.25 30.55 EURUSD 5M FWD 38.03 38.43 EURUSD 6M FWD 45.91 47.2 EUR/USD Spot 1.1320 1.1328 What is the average annualized forward premium/discount for the EUR if you use the 4M forward contract (Format for answer: X.XX% or –X.XX%)